Justices Will Know Insider Trading When They See It
A loose but useful way to think about U.S. insider-trading law is that it is supposed to encourage research, but discourage cheating.
Goldman Puts Mortgages and Naked Shorts Behind It
It would be odd if Goldman's punishment for selling bad loans to investors is that it has to take more money away from those investors.
Steve Cohen Will Be Back in 2018. That's Good.
Since shuttering SAC, his Point72 family office has far outperformed, so maybe he’s good for the industry and investors even without the alleged insider trading.
Good Technology Wasn't So Good for Employees
Why we should feel worse for Good Technology's employee-shareholders than for the average public-company employee-shareholder whose stock goes down.
When Can Bond Traders Lie to Their Customers?
Is lying to your investors about the price you paid for a bond fraud? A federal court decides.
Activists Are Tough on Companies They Don't Own
Two researchers measured activism by looking not at firms targeted by activists, but at the competitors of those firms.
Maybe Banks Manipulated Treasury Bonds, Too
It seems quite plausible that the next round of big banks-rigging-things cases will be about rigging the Treasury auction market.
Citi Overlooked a Few Thousand Illegal Trades
A major job of banking compliance is to keep separate a bank's trading and relationship functions. Citigroup Global Markets sometimes messed up that separation.
Guggenheim, the SEC and Milken's Shadow
Did the former junk-bond king act as an investment advisor? Regulators seem to have spent two years investigating just that.
Senators Think Stock Buybacks Might Be Manipulative
Some politicians, like Sens. Elizabeth Warren and Tammy Baldwin, think that stock buybacks are bad and that the SEC should forbid them as market manipulation.